Lithuania’s central bank has imposed a €3.5 million fine on Revolut Bank UAB, the European arm of UK-based fintech giant Revolut, due to serious deficiencies in its anti-money laundering (AML) practices.
The penalty follows a routine inspection that revealed multiple violations of AML regulations. According to the Bank of Lithuania, Revolut failed to adequately monitor business relationships and transactions, and did not consistently identify potentially suspicious activity. While no actual instances of money laundering were discovered, the regulator emphasized that the weaknesses in Revolut’s systems created significant compliance risks.
This fine marks the largest ever issued by the Lithuanian central bank, reflecting both the severity of the breaches and the size of Revolut Holdings Europe, which operates under a Lithuanian banking license across the EU.
Revolut has responded by cooperating fully with the authorities and implementing immediate corrective measures. The company reaffirmed its commitment to the highest standards of regulatory compliance and announced further investments in strengthening its systems to prevent financial crime.